Flamboyant widow Rose Porteous is selling off her Sydney assets, securing a little more than $15 million for her long-held commercial property in Double Bay.

The sale comes amid talk in industry circles that the widow of iron ore magnate Lang Hancock is, on the quiet, also shopping around her other Double Bay commercial property.

The block of about 22 office spaces and 18 car spaces is set to be redeveloped into luxury apartments by the buyer, Anka Property Group, headed up by the Double Bay-based Boyarsky family.

Rose Porteous has sold her commercial property in Double Bay. Photo: Tony Mcdonough

The two properties and Porteous’ Perth mansion Prix D’Amour were subject to a failed legal battle in the late 1990s by Hancock’s daughter Gina Rinehart who sought to claw back the properties through the courts.

After Porteous won her right to keep the properties, she listed the two Double Bay sites in 2000 with price expectations of about $7 million each.

Porteous bought the recently sold block in 1991 for $6.1 million from the late lawyer Sir Arthur George, a year before Lang Hancock died.

A few months after his death Porteous married Willie Porteous, of William Porteous Properties International, who helped negotiate the sale with CBRE’s Ben Stewart.

Ben Stewart declined to confirm rumours that Porteous was also selling her second commercial property on the same Bay Street, but did say “everything is for sale at the right price”.

Porteous bought the block in 1988 for $5.5 million. The lack of off-street parking with the corner property means it would fetch less than the recent $15 million windfall.